Singapore homes are 13th most expensive globally
By Romesh Navaratnarajah: The latest Wealth Report 2012 jointly released by Knight Frank and Citibank has listed Singapore as the 13th most expensive real estate market in the world.This despite a decline in private home prices in 2011 by 4.7 percent to US$25,600 (S$32,000) psm. Monaco remains...
Continue Reading • 15 Aug 2012
NKF founder's bungalow up for sale
By Romesh Navaratnarajah:A good class bungalow (GCB) at 27 Olive Road (pictured) has been launched for sale by an Expression of Interest (EOI), according to marketing agent Knight Frank. The two-storey detached house which is more than 30-years old is sited on a 23,423 sq ft plot at the exclusive...
Continue Reading • 15 Aug 2012
Shan Gate put up for collective sale
By Romesh Navaratnarajah: Shan Gate Apartments (pictured) along Shan Road is up for collective sale, according to marketing agent Remax.It said that sellers expect bids to range between S$51.5 million and S$53.5 million, reflecting land rates of S$1,010 to S$1,049 psf ppr based on a gross plot...
Continue Reading • 14 Aug 2012
Luxury property rentals to decline?
By Romesh Navaratnarajah: Rents of newly completed high-end homes could decline further upon the completion of over 4,000 units in 2H2012. Based on CBRE data, at least 20 developments with 4,285 units are set for completion in the second half of 2012. Of this figure, around half are located...
Continue Reading • 13 Aug 2012
Bright Hill site awarded to UVD
By Romesh Navaratnarajah: UVD Pte Ltd has won the tender for a residential site (pictured) at Bright Hill Drive after submitting the top bid of S$291.5 million, according to the Housing and Development Board (HDB). The 13,437.1 sq m plot is expected to yield 405 condo units or flats, or a...
Continue Reading • 13 Aug 2012
More owners opting for green housing
By Romesh Navaratnarajah:With the advent of the green movement, many homeowners today, especially young ones, prefer clean designs and homes that adopt a natural balance. According to architect Randy Chan, garden terraces and “living” walls are the current trends for landed home...
Continue Reading • 10 Aug 2012
Singapore's unprofitable housing sector
By Romesh Navaratnarajah:Property developers’ profitability fell 14 percent to a three-year low of S$2.7 billion in the first half of 2012 from S$3.2 billion in 2H2011, according to Square Foot Research.The figure is much lower than the most profitable half-year of 1H2011, when private...
Continue Reading • 10 Aug 2012
48% hike in Singapore property investments: DTZ Research
By Romesh Navaratnarajah: Singapore witnessed healthy purchasing demand from home buyers and investors in Q2 2012 despite worries over the Eurozone debt crisis, according to DTZ Research.Property investment rose by 48 percent to S$6.9 billion in the second quarter thanks to more local and...
Continue Reading • 8 Aug 2012
Ang Mo Kio residents aggrieved over new BTO project
By Romesh Navaratnarajah: A proposed Build-to-Order (BTO) project in Ang Mo Kio St 52 has irked nearby residents of the Park Central Design, Build and Sell Scheme (DBSS) project (pictured), who are worried that it would be noisy and dusty and worsen overcrowding in the area. It has been less than...
Continue Reading • 8 Aug 2012
Property market outlook picks up, says survey
By Romesh Navaratnarajah: Property industry players showed marginally improved sentiment in Q2 2012, according to a recent survey carried out by the National University of Singapore (NUS) and Real Estate Developers' Association of Singapore (REDAS).For the quarter, the Composite Sentiment Index...
Continue Reading • 8 Aug 2012
Bishan Loft is most expensive EC
By Romesh Navaratnarajah:Bishan Loft (pictured) is the only executive condominium (EC) project to break the S$1,000 psf price mark this year, according to Square Foot Research. Units in the development saw an average selling price of S$1,005 psf while the highest transacted price was S$1,129 psf...
Continue Reading • 8 Aug 2012
Bright Hill Drive site attracts top bid of S$291.5m
By Romesh Navaratnarajah: A 99-year leasehold residential site at Bright Hill Drive (pictured) attracted a total of six bids, with the highest offer at S$291.5 million or S$719.9 psf ppr, according to the Housing and Development Board (HDB). UVD Pte Ltd, a joint venture (JV) company between UOL...
Continue Reading • 8 Aug 2012
Global property market on recovery track, says JLL
By Romesh Navaratnarajah: The global property market rebounded sharply in the second quarter, following a relatively quiet period in Q1, according to Jones Lang LaSalle’s (JLL) Global Market Perspective.In Q2, investment volumes increased 24 percent to US$108 billion (S$134 billion), an...
Continue Reading • 7 Aug 2012
Fewer Chinese buying Singapore homes
By Romesh Navaratnarajah: Fewer Chinese nationals bought properties in Singapore, on the back of China’s slowing economy and additional stamp duty. According to caveats lodged with the Urban Redevelopment Authority (URA), Chinese buyers accounted for 259 home purchases in 1H2012, falling to...
Continue Reading • 7 Aug 2012
Consortium wins S$285m bid for Tanah Merah Kechil Road site
By Romesh Navaratnarajah: The tender for a 99-year leasehold residential site (pictured) at Tanah Merah Kechil Road has been awarded to a consortium comprising Fragrance Group Limited and World Class Land, according to the Urban Redevelopment Authority (URA). The developers beat 12 other bidders,...
Continue Reading • 7 Aug 2012
ECs built and sold for less
By Romesh Navaratnarajah: Developers of executive condominiums (ECs) are enjoying smooth sailing despite stiff competition among other housing types, as ECs typically have a pricing edge over condos due to lower construction costs. With lower building costs, developers can sell units at lower...
Continue Reading • 6 Aug 2012
Serangoon Gardens still got the groove
By Romesh Navaratnarajah: Despite being relatively older compared to other housing estates in Singapore, Serangoon Gardens is still a sought-after residential enclave. Originally built to house British soldiers, the upper middle-class neighbourhood now attracts a slew of buyers-turned-residents...
Continue Reading • 6 Aug 2012
Khaw urges caution, slams 50-year loan
By Romesh Navaratnarajah: Given the tough economic conditions, National Development Minister Khaw Boon Wan has advised Singaporean home buyers to be realistic about their finances. Speaking at a National Day Observance Ceremony in Sembawang GRC yesterday, the Minister highlighted that...
Continue Reading • 6 Aug 2012
BCA puts stop to demolition works at 5 Shenton Way
By Cheryl Tay: Following the partial collapse of a multi-storey carpark during demolition works at 5 Shenton Way (pictured), the Building and Construction Authority (BCA) has revoked the permit for the works.The Ministry of Manpower (MOM) also issued a stop work order for the demolition of the...
Continue Reading • 3 Aug 2012
Chateau Eliza tries for en bloc again
By Romesh Navaratnarajah: Knight Frank Singapore has re-launched the collective sale of Chateau Eliza (pictured), a prime freehold residential redevelopment site at Mount Elizabeth. With a land area of 17,997 sq ft and a plot ratio of 2.8 under the 2008 Master Plan, Chateau Eliza comprises 37...
Continue Reading • 3 Aug 2012